Home / Markets / Stock Markets /  Bulls charge back: Banks & financials lift Sensex 976 pts; Nifty ends at 15,175

Bulls charge back: Banks & financials lift Sensex 976 pts; Nifty ends at 15,175

Stock Market Today: Indian indices surged in trade led by banks and financials. (REUTERS)Premium
Stock Market Today: Indian indices surged in trade led by banks and financials. (REUTERS)

  • Market Closing: Benchmark indices snapped two-day losing streak to end with robust gains led by banks and financial services stocks. Sensex ended around 2% higher helped by HDFC twins and ICICI Bank

After two days of losses, markets made a strong comeback with Sensex gaining 976 points intraday, and Nifty settling above the 15,150 points. Bank and financial stocks were among the best gainers, with Bank Nifty surging 3.8%. Global markets were mixed as inflation worries weighed on optimism over economic recovery.

21 May 2021, 03:34:08 PM IST

Market snap two-day losing streak to end with robust gains

Markets made a strong comeback after two days of losses with Sensex gaining 976 points to settle at 50,540.48, and Nifty settling at 15,175.30 points, up 1.8%. Sentiment was boosted by the steady fall in covid cases and expectations of sooner easing of lockdown.

Nifty Bank jumped 3.8% and Financials surged 3.2%.

HDFC twins, SBI and ICICI Bank were the biggest contributors to the rally in the markets today. SBI rose 4% after its Q4 profit zoomed 80%.

Sensex at close
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Sensex at close
21 May 2021, 03:23:48 PM IST

Unprecedented farmers’ protests in India can turn into a political problem: UN report

“Several recent events have highlighted the importance of rethinking current rural development strategies. Unprecedented farmers’ protests, such as the one seen recently in India, and resentment of rural people towards national authorities, as observed in many other countries show that neglect of the rural population and agricultural policy issues can expand the rural-urban divide into a political problem," the report said.

21 May 2021, 03:15:19 PM IST

Bitcoin slips below $40,000

Bitcoin fell 3% on Friday, giving up early gains, as its recovery from this week's massive plunge showed signs of faltering.

The cryptocurrency fell to $39,262 on the Bitstamp exchange. That is roughly 30% above its Wednesday low. Rival cryptocurrency ether also came under pressure on Friday, falling 2% to $2,714.

21 May 2021, 03:11:32 PM IST

Hindalco Q4 profit jumps 52% to ₹495 crore; revenue up 44%

21 May 2021, 03:03:25 PM IST

Covid-led uncertainties mar Havells strong Q4 show

Electronic good manufacturer Havells India's stock fell over 3% despite a strong March quarter performance. However, the ferocity of the second wave is impacting growth, said the company. From the second week of April, growth has slowed with further deceleration in May.

21 May 2021, 02:53:36 PM IST

India’s already stiff healthcare costs get a pandemic boost

The cost of healthcare during a pandemic is bound to go up and in that the recent surge in India’s ever climbing healthcare inflation should not come as a surprise.

But India’s healthcare inflation has been rising faster even before the pandemic was triggered last year. As such, health inflation has been several percentage points higher than the headline number for many years now. In fact, healthcare inflation had shown a sharp rise during FY19 and the rate of inflation during the current pandemic time is less than that year. Healthcare inflation was 8.87% in December 2018 led by a sharp rise in select medicine prices. (Read more)

21 May 2021, 02:43:37 PM IST

Sensex at day's high; up 896 points

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21 May 2021, 02:33:47 PM IST

Nifty Bank jumps 3%

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21 May 2021, 02:22:12 PM IST

SBI jumps 3.5% as Q4 profit jumps 80%

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21 May 2021, 02:17:10 PM IST

World markets mixed

Asian and European markets fluctuated Friday as sentiment continues to be driven by inflation fears and optimism over the economic recovery.

Japan's Nikkei 225 closed 0.8% higher, Hong Kong's Hang Seng ended flat,

Shanghai - Composite settled 0.6% lower. European stocks rose 0.22%, while London's FTSE 100 was trading 0.4% lower.

21 May 2021, 02:03:04 PM IST

SBI announces dividend of ₹4 per share, its first payout since May 2017

21 May 2021, 01:58:00 PM IST

SBI's provisions at ₹11,051 crore; NII at ₹27,067 crore

Its gross non-performing assets (NPAs) as a percentage of total advances stood at 4.98%, down 117 basis points (bps) on a year-on-year (y-o-y) basis but 21 bps higher sequentially.

Its capital adequacy ratio under Basel III norms stood at 13.74%, up 68 bps y-o-y and 14 bps.

21 May 2021, 01:52:49 PM IST

SBI posts record quarterly profit

The country's largest lender by assets, posted a record quarterly profit on Friday, as provisions for soured assets slid.

Net profit rose 80% to 64.51 billion for the three months ended March 31, from 35.81 billion rupees a year earlier

21 May 2021, 01:43:51 PM IST

Sun Pharma appoints Pawan Goenka, Rama Bijapurkar as additional independent directors

21 May 2021, 01:34:30 PM IST

Zee Entertainment up 1% as company back in the black in Q4

The company reported a consolidated net profit of 272.36 crore for the quarter ended March against a net loss of 765.82 crore a year ago. Its total income during the quarter under review was 1,984.39 crore against 1,991.74 crore a year earlier.

21 May 2021, 01:24:54 PM IST

RBI Central Board approves transfer of ₹99,122 crore as surplus to the government for nine months ended March 31

21 May 2021, 01:14:56 PM IST

Sterling and Wilson Solar down around 3%

Sebi is investigating suspected financial irregularities at the Shapoorji Pallonji Group company, two people aware of the matter told Mint. The probe follows allegations by a few SW Solar shareholders last year that Shapoorji Pallonji and Co. Pvt. Ltd may have utilized funds raised in SW Solar’s August 2019 public share sale for purposes other than those mentioned in its share sale documents.

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21 May 2021, 01:05:14 PM IST

SC upholds Centre's notification permitting banks to proceed against personal guarantors under IBC

Petitioners had challenged the November 2019 notification issued under the IBC and other provisions in as far as they relate to personal guarantors to corporate debtors.

Upholding the validity of the notification, the top court ruled that initiation of an insolvency resolution plan for a company does not absolve corporate guarantees given by individuals from paying up the dues to financial institutions.

21 May 2021, 12:55:35 PM IST

Dhampur Sugar down 4% as Centre slashes subsidy on sugar exports

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21 May 2021, 12:51:19 PM IST

Nifty Realty up 1.3%

Realty stocks
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Realty stocks
21 May 2021, 12:40:35 PM IST

For Bosch’s investors, margin challenges key concerns ahead

Auto parts maker, Bosch Ltd’s March quarter results are not bad, but they aren’t particularly inspiring either. Reported Ebitda margin is optically high at 19.2%. That’s primarily owing to a sharp 51% year-on-year drop in employee costs due to one-time employee benefit reversal. Naturally, adjusting for this, Ebitda margin is lower. (Read more)

21 May 2021, 12:28:00 PM IST

ICICI Bank jumps 2.5%; issues record credit cards in March quarter

The private sector lender’s cardholder base grew by a record 672,911 during the March quarter, while HDFC Bank’s portfolio contracted by 322,999 in the same period, latest data released by the central bank showed. SBI Card and Axis Bank added 331,523 and 273,310 cards, respectively.

21 May 2021, 12:17:07 PM IST

Nifty broad market indices firm; India VIX eases more than 2%

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21 May 2021, 12:07:18 PM IST

Sensex at noon: Up 680 points led by banks, financials

Sensex check
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Sensex check
21 May 2021, 11:58:58 AM IST

Union Bank of India gains 1.2%

The bank said it has raised 1,447 crore through qualified institutions placement. The bank's QIP issue had opened on May 17 at an issue price of 33.82 per share.

21 May 2021, 11:49:04 AM IST

Axis Bank up 2%

The government has raised about 4,000 crore from sale of 1.95% stake in the bank held through SUUTI. "The OFS of Axis Bank got good response from investors with SUUTI garnering about 4,000 cr (subject to reconciliation). Thanks to all for their participation," DIPAM Secretary Tuhin Kanta Pandey had tweeted.

21 May 2021, 11:36:00 AM IST

Covid-19 drugs and vaccines to drive Cadila Healthcare’s prospects

Shares of Cadila Healthcare Ltd have been rising consistently and are up more than 46% from their March lows following the company's covid drug portfolio. Developments pertaining to the expected vaccine launch and rollout has further boosted sentiment for the stock. The company is also to benefit from the unfolding of its NCE (new chemical entities) pipeline. (Full report)

21 May 2021, 11:25:12 AM IST

BSE SmallCap up 1%

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21 May 2021, 11:12:11 AM IST

Israel, Hamas agree to cease-fire to end bloody 11-day war

21 May 2021, 11:01:38 AM IST

Sensex zooms 650 points; HDFC twins, ICICI Bank lead rally

Sensex contributors
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Sensex contributors
21 May 2021, 10:50:02 AM IST

Petrol, diesel prices hiked

State-owned fuel retailers increased petrol prices by 19 paise to 93.04 per litre in Delhi, while diesel rose to 83.80 per litre a 29 paise hike.

21 May 2021, 10:39:45 AM IST

HPCL jumps 4% on robust earnings

The state-owned oil retailer's March quarter net profit soared many folds to 3,018 crore on the back of inventory gains and rise in refining margins. The company also reported its highest ever profit after tax of 10,664 crore during financial year 2020-2021.

21 May 2021, 10:27:16 AM IST

JK Lakshmi Cement hits new 52-week high on blockbuster Q4 earnings

The March quarter earnings of JK Lakshmi Cement Ltd exceeded analysts' expectations on multiple fronts. Reacting to the solid earnings, shares of the company hit a new 52-week high of Rs499 apiece on the National Stock Exchange in opening deals on Friday.

21 May 2021, 10:17:26 AM IST

Rupee opens at 72.98 per US dollar against 73.10 at close Thursday

21 May 2021, 10:07:03 AM IST

Covid update: New cases dip to one-month low, daily recovery over 3.5 lakh

India reported 2,59,591 new covid-19 cases and 4,209 deaths in the last 24 hours, according to the Ministry of Health and Family Welfare's data on Friday.

As many as 3,57,295 discharges have been recorded in the last 24 hours, which is more than the daily cases reported.

The cumulative caseload stands at 2,60,31,991, including 2,27,12,735 recoveries, 30,27,925 active cases and 2,91,331 deaths.

21 May 2021, 09:58:11 AM IST

Pidilite Industries gains 2%; hits ₹1 trillion in market cap

Pidilite Industries Ltd on Friday hit 1 trillion in market capitalisation, with the company's shares having surged nearly 11% so far this year.

Pidilite Industries reported higher-than-expected earnings for the March quarter, with revenue up 44.7% year-on-year and EBITDA up 53.1%.

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21 May 2021, 09:49:33 AM IST

BSE MidCap up 1%, Adani Transmission top gainer

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21 May 2021, 09:36:04 AM IST

SBI up 1.5% ahead of Q4 earnings

The public sector lender is expected to report a profit of 6,166.2 crore in the three months to March, up from 3,580.8 crore in the same period last year, according to a Bloomberg estimate of 10 analysts.

21 May 2021, 09:32:44 AM IST

Nifty Bank gains 1.4%

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21 May 2021, 09:27:11 AM IST

Nifty crosses 15,000 mark: Indusind Bank, BPCL best gainers

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21 May 2021, 09:25:02 AM IST

Sensex soars 300 points to 49,865; IndusInd Bank, SBI top gainers

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21 May 2021, 09:19:28 AM IST

Sensex, Nifty open higher

21 May 2021, 09:05:20 AM IST

Sensex at pre-open: Up 250 points

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21 May 2021, 09:03:00 AM IST

Markets in the green in pre-opening session

21 May 2021, 08:55:22 AM IST

Adverse weather to inflate project costs in west India

The cost of building solar and road projects in western India is expected to rise following an increase in the frequency of extreme weather events such as cyclones in the region, said industry experts, analysts and top executives of infrastructure firms.

Bidders are likely to factor in the cost of disruptions caused by high-speed winds, rain and flooding in their financial models. In states such as Gujarat, where Cyclone Tauktae made landfall earlier this week, damaging some solar parks and roads, solar power tariffs are expected to go up.

21 May 2021, 08:45:17 AM IST

Govt cuts subsidy on sugar exports to ₹4,000 per tonne from ₹6,000

The Centre on Thursday slashed subsidy on sugar exports from 6,000 per tonne to 4,000 per tonne with immediate effect in view of firm global prices.

For the ongoing 2020-21 marketing year (October-September), the government had fixed a subsidy of 6,000 per tonne to facilitate exports, thereby improving the liquidity of mills and enabling them to clear cane price dues to farmers.

21 May 2021, 08:33:15 AM IST

Stocks to Watch: SBI, Axis Bank, Mindtree, ICICI Bank,

Shares of Axis Bank, Mindtree, ICICI Bank, HPCL will be in focus today. State Bank of India, JSW Steel, Hindalco Industries, Shree Cement, Godrej Industries, and Shoppers Stop will also be in focus as they announce their March quarter earnings on Friday.

21 May 2021, 08:21:33 AM IST

Markets may open higher

Markets are likely to be volatile on Friday while trends in SGX Nifty suggest a green opening for Indian benchmark indices. On Thursday, the BSE Sensex ended at 49,564.86, down 337.78 points or 0.68%. The Nifty closed at 14,906.05, down 124.10 points or 0.83%.

21 May 2021, 08:08:48 AM IST

Oil prices recover marginally

Oil prices recovered slightly after steep drops on Thursday, when diplomats said progress was made toward a deal to lift US sanctions on Iran.

Brent crude was 0.2% higher at $65.21 a barrel after slumping 2.3%. West Texas Intermediate crude added 0.4% to $62.16 a barrel following a 2.1% tumble.

21 May 2021, 07:46:44 AM IST

Asian shares firm

Asian stocks climbed early Friday after technology companies led a Wall Street rebound on economic optimism and easing concern about the possibility of reduced U.S. stimulus.

Japan’s Nikkei index increased 0.5%, Australia’s S&P/ASX 200 rose 0.3%

South Korea’s Kospi index advanced 0.7% and Hang Seng advanced 0.4%.

21 May 2021, 07:31:28 AM IST

Wall Street ends higher on Thursday

US indices rebounded on Thursday after a three-day slide as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted mood.

The Dow Jones Industrial Average rose 188.11 points, or 0.55%, to 34,084.15, the S&P 500 gained 43.44 points, or 1.06%, to 4,159.12 and the Nasdaq Composite added 236.00 points, or 1.77%, to 13,535.74.

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